The Citizens Bank Of Edmond Gives SBA Loan to Lumber, Plywood, Millwork, And Wood Panel Merchant Wholesalers Company

Looking to get an Oklahoma small business loan? This Oklahoma entrepreneur got a small business loan, provided by an Oklahoma bank that works with the SBA to help small business owners.

This company, based in Oklahoma City, Oklahoma, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Citizens Bank Of Edmond. We've got the inside scoop on this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS
OKLAHOMA CITY, OK 73113

SBA Loan Lender

THE CITIZENS BANK OF EDMOND
ONE E FIRST ST
EDMOND, OK 73034

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Loan Approval Date

8/31/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, if it to be, it is up to me!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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